Galaxy Cloud Kitchens Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving two critical special resolutions that will reshape the company's identity and operational scope. The company formally notified BSE Limited on January 05, 2026, pursuant to Regulation 30 and 44 of SEBI Listing Regulations, confirming the passage of both resolutions with requisite majority.

Official Regulatory Compliance

The company submitted comprehensive voting results and scrutinizer reports to BSE Limited under scrip code 506186. The postal ballot notice was initially issued on December 04, 2025, with the remote e-voting period concluding on January 03, 2026 at 5:00 PM IST.

Postal Ballot Results Overview

The remote e-voting process demonstrated exceptional shareholder participation, with scrutinizer Amit Samani of M/s. Amit Samani & Co. (FCS: 7397, CP: 7966) submitting the comprehensive voting results report on January 05, 2026.

Resolution 1: Company Name Change

The first special resolution proposed changing the company name from "Galaxy Cloud Kitchens Limited" to "Galaxy Supermarket Limited." This resolution received exceptional shareholder support across all categories with 99.99% approval.

Resolution 2: MOA Alteration

The second special resolution involved altering the Objects Clause of the Memorandum of Association, enabling the company to expand its business activities. The voting pattern remained identical to the first resolution, with 65 members voting in favour and only 2 members voting against.

Scrutinizer Appointment and Report

Mr. Amit Samani was appointed as scrutinizer by the Board of Directors on May 29, 2025, and conducted the entire postal ballot process in compliance with applicable regulations. The scrutinizer confirmed that the remote e-voting commenced on December 05, 2025 at 9:00 AM and concluded on January 03, 2026 at 5:00 PM.

Corporate Governance and Transparency

The company maintained full transparency throughout the process, with voting results and scrutinizer reports being uploaded on both the company website at galaxycloudkitchens.in and NSDL's e-voting portal. Company Secretary Harsh Joshi (Membership No.: A51905) signed the official communication to BSE Limited, confirming compliance with all regulatory requirements.

Both resolutions have been officially passed with the requisite majority, marking a significant milestone in the company's transformation journey from cloud kitchens to supermarket operations. The overwhelming shareholder support reflects confidence in the management's strategic direction and the proposed business expansion.

Galaxy Cloud Kitchens Limited , a company specializing in food, beverages, and grocery products, has announced significant changes in its management and released its financial results for the quarter and half-year ended September 30, 2025. The company faces ongoing financial challenges but shows signs of operational restructuring.

New CFO Appointment

The Board of Directors has approved the appointment of Mr. Shashikant Sandbhor as the new Chief Financial Officer (CFO) and Key Managerial Personnel, effective November 13, 2025. Mr. Sandbhor brings 19 years of experience in accounts, audit, taxation, and finance. He holds a Bachelor's degree in Commerce and has completed the Executive/Inter Programme of the Institute of Company Secretaries of India (ICSI).

Financial Performance

Galaxy Cloud Kitchens reported the following financial results for the quarter ended September 30, 2025:

The company's revenue from operations has shown significant growth compared to the previous year. However, the net profit has been impacted by losses from discontinued operations.

Going Concern Issues

The auditor's review report highlighted material uncertainty regarding the company's ability to continue as a going concern. The entire net worth of the company has been eroded due to losses incurred in previous years, and current liabilities exceed current assets. Despite these challenges, management remains confident about future prospects, citing initiatives to boost sales, reduce costs, and diversify business activities into supermarket store operations.

Discontinued Operations

Galaxy Cloud Kitchens has discontinued operations from its Commissary Units in Bangalore, Mumbai, and Gurugram. The company has made necessary accounting provisions related to these closed-down business operations as per applicable accounting standards.

Contingent Liabilities

A contingent liability of Rs. 290.46 lakhs relates to employees of the closed Bangalore Commissary. The company has made a complete provision for this amount, anticipating a possible settlement.

Arbitration Settlement

The company has agreed to pay Rs. 5.81 lakhs in addition to old dues of Rs. 3.19 lakhs for the settlement of an arbitration matter. This includes the transfer of movable and immovable assets situated at Veerasandra Industrial Area, Bengaluru.

Audit Observations

The auditor's report noted several issues, including:

• Non-recognition of gratuity and leave encashment liability for the half-year ended September 30, 2025
• Computation of Earnings Per Share based on total shares outstanding instead of weighted average
• Non-identification of creditors under the Micro, Small and Medium Enterprises Development Act, 2006

Despite these challenges, Galaxy Cloud Kitchens is taking steps to improve its operational efficiency and financial position. The appointment of a new CFO and the focus on diversifying business activities indicate the company's efforts to navigate through its current financial difficulties.